Franklin Insurance Agency

2345 Southern Blvd SE Ste C4,
Rio Rancho, NM 87124, United States

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Things You Should Know About Motorcycle Insurance Before Purchasing It

Being a lucky motorcycle owner is not enough. It would be best if you also thought about how to protect your precious vehicle, and having proper motorcycle insurance is one of the best ways to do it. Finding motorcycle insurance based on your needs and budget is challenging. If you are currently shopping for motorcycle insurance, here is what you need to know:

What Do You Need to Know About  Motorcycle Insurance?

Here is a list of the most important facts about motorcycle insurance:

  • Auto insurance does not cover your motorcycle. Many people mistakenly believe they do not need motorcycle insurance if they already have auto insurance. The truth is that auto insurance covers your car only. If you also have a motorcycle, you must purchase separate insurance. 
  • The cost of your motorcycle insurance depends on certain factors. The three main factors affecting the cost of your insurance are who you are, what type of motorcycle you have, and where you live. 
  • Motorcycle insurance does not cover everything. It is important to know that not all types of accidents are covered by motorcycle insurance. The following situations are not covered: racing or operating a bike without registration or proper license, riding while being under the influence, and others. 

Trustworthy and Reliable Insurance Company in New Mexico

Are you shopping for motorcycle insurance in Rio Rancho, NM, or Albuquerque? Do you want an insurance policy to cover your motorcycle and protect you on the road? Franklin Insurance Agency is here to help you. We specialize in various types of insurance, including motorcycle insurance as well. We are ready to help you find a perfect policy based on your personal needs and budget. Do not hesitate to contact us – we are here for you. 

Understanding Your Options for Auto Insurance in Rio Rancho, NM

You’ve just moved to Rio Rancho, NM, and need to figure out your auto insurance options. As you research, it isn’t always easy to know what coverage is best for you.

Here are some tips to help you get the right coverage with Franklin Insurance Agency:

Determine Your Needs

The three most common types of auto insurance are liability, comprehensive, and collision.

Comprehensive Coverage 

Comprehensive coverage covers damages to your vehicle caused by events other than a collision, such as theft or vandalism. It also covers certain natural disasters like floods and earthquakes. Comprehensive coverage will help protect your car if these events occur while parked on your property or elsewhere. 

Collision Coverage 

Collision coverage covers damages from an accident caused by you or another driver who is at fault. If you’re responsible for damage to another vehicle or property because of an accident, collision coverage helps cover repairs or replacement costs. This type of auto insurance can be essential if you have a loan on your car since most lenders require this type of protection to approve a loan. 

Liability Insurance

Finally, liability insurance protects if you are at fault for an accident and someone else’s property is damaged or if someone else sustains a bodily injury. Liability insurance will help cover any legal fees associated with the claim and any medical bills related to the incident and provide compensation for lost wages because of injury or time spent away from work because of an accident-related injury.  

With all these options available, it’s important to take the time to understand what type of auto insurance works best for you in Rio Rancho, NM, before deciding. At Franklin Insurance Agency, we can advise you on which policy suits your situation. Contact us today to learn more! 

How Umbrella Insurance Works

Umbrella insurance is a type that works a bit differently from most other types of insurance policies. It works along with other policies to boost the amount of coverage that you have with those policies. If you already have policies for your home and vehicle, you might consider umbrella insurance to boost them. To get started with an umbrella policy, you can call us at Franklin Insurance Agency in Rio Rancho, NM. 

More Liability Coverage

Your home and auto policies each have different kinds of coverage within them. This includes liability coverage that pays for the medical bills of others after they are injured in an accident deemed to be your fault. Medical bills can be costly, so it’s a good idea to have plenty of liability coverage to pay them if needed. An umbrella policy adds coverage to your home and auto policies so that you can afford liability if an accident should happen. This protects you financially and gives you better peace of mind knowing that you are well-covered.  

Overage Payment

The first thing that happens after an accident is that the home or auto policy steps in to pay for the medical bills that are due for the other party. However, there may be an overage left over after that policy reaches its maximum. If there is, this coverage is then paid by the umbrella insurance policy. This coverage has extremely high maximums, so people will not likely owe anything after it has paid out for the medical bills. 

Get Better Coverage With Umbrella Insurance

If you want more coverage in case of accidents and already have home and auto policies, an umbrella policy can help. Call us at Franklin Insurance Agency in Rio Rancho, NM.

Protecting Your Bike in New Mexico’s Winter Rain and Snow

New Mexico’s coldest months, December and January, require bike storage. These rainy and snowy months inundate the typically arid state, and temperatures drop to the 20s and 30s Fahrenheit. This means bike owners need to park in a garage or storage building.

Franklin Insurance Agency explains the most secure and warm places in Rio Rancho, NM, where you can park your bike for winter.

Park Your Bike in Your Home’s Garage

While a bike cover works excellently in spring to cover your motorcycle, to avoid damage during winter’s harsh conditions, park your bike in your home’s garage during the coldest months. Either an attached or detached garage keeps it locked up tight and warm. Before you park it for the cold season, double-check the garage insulation. If the room doesn’t already have central heat and air or its own heater, purchase and install one, even if it’s a space heater. Use this to keep the garage’s temperature at least in the 50s.

Rent a Storage Unit

Most locations offer at least one storage facility with large rooms to serve as a garage. Typically, these units contain a roll-up garage door and can accommodate a bike and car. If you own a condo, your condo association might provide each condo owner with a storage unit. If it isn’t climate-controlled, add a space heater to keep the bike warm enough. Climate-controlled facilities usually refer to a complex that heats and cools its storage units. A climate-controlled unit typically maintains a temperature of about 70F to 80F during summer but temps of about 56F to 66F during winter.

Renting a Garage Space

Large-scale parking garages rent parking spaces to bike and trike owners, just as they do car owners. For the motorcycle to remain safe, you’ll need a covered, enclosed space that’s heated. A monitored parking facility provides the most secure option.

Contact Franklin Insurance Agency for motorcycle insurance to protect your bike on the road. Park it safely during Rio Rancho, NM’s chilly winters.

What types of insurance are included in auto insurance?

Purchasing the right automotive insurance can seem daunting, but Franklin Insurance Agency, serving Rio Rancho, NM, is here to help keep you protected and covered.

What is included in auto insurance?

There are three main types of insurance included under auto insurance: property, liability, and medical. The role of insurance is to protect you, the policyholder, from financial costs that may incur in the case of an unforeseen event involving your vehicle.

So, what does each type of insurance cover?

  • Property coverage
    • Addresses potential damage to the car
    • Provides coverage in the case of car theft
    • It can also cover damage to other types of property, such as lamp posts or fences that may be hit in an accident.
  • Liability coverage
    • Covers any legal responsibility the policyholder has to others in the case of damage to property or bodily injury
  • Medical coverage
    • It covers the cost of treating injuries and completing rehabilitation (if required).
    • Depending on the scenario, medical coverage can include lost wages or funeral expenses.
    • It may also be referred to as Personal Injury Protection (PIP)

At a minimum, drivers who operate motor vehicles need to have auto liability insurance per a New Mexico requirement. The minimum amounts of coverage needed are:

  • $25,000 – for bodily injury to or death of one person
  • $50,000 – for bodily injury to or death of two plus people
  • $10,000 – for damage to property from any single accident

Insurance beyond the minimum above provides peace of mind and can help protect your assets, such as a house, in case of the unexpected.

Contact Franklin Insurance Agency, serving Rio Rancho, NM, for a quote. We are here to help you find the right insurance at the right price.

Required Commercial Insurance in New Mexico

If you are a business owner in New Mexico, you need to know which commercial insurance requirements exist in your state to get the needed policies. Two insurance types are mandated for many New Mexico businesses. There are also many non-required policy types, such as cyber insurance, that you should look into for extra protection. If you need commercial insurance coverage in Rio Rancho, NM, call us at Franklin Insurance Agency.

Workers’ Comp

Workers’ compensation insurance is required for many businesses in New Mexico. All businesses in the state with at least three employees must have this insurance to protect them. This is true whether the employees are part or full-time. If your business is a construction company, the law says that having even just one employee requires you to have workers’ comp insurance. This policy protects your business by paying for the accidents, and even disability payments, for an employee who has an accident at work. This makes your business less likely to be sued, and it can save you an enormous amount on medical bills. 

Commercial Auto Insurance

If your business owns any vehicles, each of these vehicles has to be covered by commercial auto insurance. This insurance will pay for the liability you have after an accident. These policies must have both bodily injury and property damage liability coverage. If you have a trucking company, you will likely have additional insurance requirements. It’s also a good idea to have collision coverage for your work vehicles so that your damages will be paid for after an accident. 

Cover Your Business

Call us at Franklin Insurance Agency in Rio Rancho, NM to get the coverage you need to protect your business.

Tips for making your home safer

Your home is the place you feel safest. Home safety includes many things, including protection from dangers outside and inside your home. At Franklin Insurance Agency in Rio Rancho, NM, we know that one way to protect your home is with the right home insurance, and we will work with you to ensure your coverage is right for your home and you. 

Make sure your smoke detectors work.

Fire is an ever-present danger to any home, and the early warning that a smoke detector provides gives you and your family the best chance of getting out safely. The batteries need to be changed every six months like clockwork. 

Get your chimney cleaned.

If you use your fireplace at all, even if it is a gas one, you must get your chimney cleaned regularly. Many fires start from the chimney and can go undetected on the roof for quite some time. 

Keep chemicals and cleaners under lock and key.

Many things that are used regularly around the house are poisonous if ingested. Kids and pets can get into something that can make them very sick or even kill them. Why take a chance? Place anything dangerous in a cabinet with a lock. 

Add an exterior home camera.

It is straightforward these days to add a camera to the exterior of your home. This way, no matter where you are, you can use an app on your phone to see what is happening at home. You can install one of these yourself for a very reasonable price. 

Lock your windows

While most people lock their doors, they often forget to ensure the windows are locked. 

Contact Franklin Insurance Agency in Rio Rancho, NM when you are ready to discuss your home insurance needs. 

Do You Need Boat Insurance in New Mexico?

You love your new boat and will want to protect it with an appropriate amount of boat insurance. According to the boat insurance agents at the Franklin Insurance Agency in Rio Rancho, NM, there are several coverage options you can choose from.


While boats are not required to be insured in the state of New Mexico, it is recommended to protect the investment you have made in your boat. Also, if you borrowed the money for your boat, you will be required by your lender to have boat insurance in place. Remember that boats in New Mexico must correctly display their validation stickers and registration number, even though boat insurance is not required.

Liability Boat Insurance

Liability boat insurance is critical since it can help you pay for any damage you cause to someone else’s boat or other property and even injuries that may result from some type of accident out on the water.

Comprehensive and Collision Insurance

If your boat catches on fire, is damaged by vandalism, or is destroyed by a hurricane or some other type of natural disaster, you will be grateful that you have comprehensive insurance in place since it can help you pay for the necessary repairs to your boat. Comprehensive insurance can also help you replace your boat if it is stolen.

Collision insurance will assist you in paying for damage to your boat if you collide with another boat or even a stationary object, such as a dock or wall.

Contact Us

To obtain the appropriate amount of boat insurance, contact the boat insurance agents at Franklin Insurance Agency in Rio Rancho, NM today!

Do I need Auto Insurance With a Car Loan in Rio Rancho, NM?

Car loans and comprehensive insurance go hand-in-hand. In Rio Rancho, NM most financing agreements require full auto insurance coverage. It is important to know about getting auto insurance when you have a car loan in Rio Rancho.

Why Do Vehicle Loans Require More Coverage?

The lender wants to ensure they protect their investment in an accident, theft, or natural disaster. So, they may require you to purchase comprehensive and collision coverage when you finance a vehicle.

How Much Auto Insurance Coverage Do I Need?

The auto insurance coverage you’ll need depends on several factors, including the value of your car, your personal assets, and your state’s minimum insurance requirements. The financing company may also have minimum insurance requirements.

Your Franklin Insurance Agency can help you determine the right coverage for your needs and budget.

Gap Insurance for Auto Loans

If you have a loan on your vehicle, you may purchase gap insurance. This type of policy covers the difference between what you owe on your car and the actual cash value of your vehicle if it’s totaled or stolen.

For example, you owe $20,000 on your car loan, but your vehicle is only worth $15,000. If your car is totaled in an accident, you would still owe the $20,000 to the lender. But with gap insurance, your insurer would pay the $5,000 difference.

Gap coverage is separate from comprehensive and collision insurance, so you’ll need to purchase it as an add-on to your auto insurance policy.

For more about car insurance in Rio Rancho, NM, contact your local Franklin Insurance Agency. We’re here to help you find the right coverage at the best price.

What home insurance covers and what it doesn’t

Home insurance helps homeowners keep their sanity and their peace of mind. It helps make the risks associated with homeownership more palatable. It makes you feel safe. At Franklin Insurance Agency in Rio Rancho, NM, we place our customer’s needs first. As independent agents, we are in the best position to provide the broadest range of options and the most reasonable rates. 

Traditional home insurance provides four basic types of protection. It covers the physical structure of your home from a variety of hazards, it covers the content, and it gives you liability protection and loss of use. All significant types of insurance. 

  • Property coverage is the insurance that protects you from tornados and fires etc., that can damage or destroy your home. It covers the house, major systems, attached structures like porches, decks, and detached structures like garages, casitas, patios, and sheds. 
  • Content coverage protects your personal property both at home and when traveling away from home with you. 
  • Liability protection is the amount you need to think about the most. It should be determined by your net worth and the level of risk you have. 
  • Loss of use will come in very handy if your home is damaged or destroyed and you can’t stay at home. It will pay for your hotel and a rental house if it is longer. 

Home insurance doesn’t cover floods, land movement, expensive art and antiques, owner neglect (wear and tear), and sewer backup. Land movement includes earthquakes, sinkholes, landslides, and mudslides. Expensive art and antiques should be covered with a rider added to the policy. Maintaining your home is what the insurance company expects.  

Contact Franklin Insurance Agency in Rio Rancho, NM, with your questions and home insurance needs.